EU Restores €83M Fine For Italian Steel Cartel

Law360, New York (September 30, 2009, 2:30 PM EDT) -- Not to be undone by troublesome technicalities like expired treaties, antitrust watchdogs in Europe have reinstated fines topping €83 million ($121.5 million) against a cartel of Italian companies found to have fixed the price of steel bars used to reinforce concrete.

On Wednesday the European Commission restored a 2002 decision that levied hefty fines against eight major players in Italy’s concrete reinforcing bar sector, putting back in place penalties the companies had managed to elude on procedural grounds.

Two years after the initial fines were lifted,...
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